China Xiangtai Food, an animal processing company, agreed to acquire a majority stake in Chongqing Ji Mao Cang Feed, a private enterprise specializing in feed raw material sales and feed formula solutions. Financaial terms were not disclosed. "We are pleased to have an opportunity to start a partnership with a Nasdaq listed company, and it is regarded as an essential milestone in JMC's history. JMC stands to benefit greatly from PLIN's senior experience and resources in the food industry, and values PLIN's continued involvement as we look to further expand JMC's profitability with the development of production capability and enhancements to our distribution channels," Jiaping Zhou, JMC General Manager.